Viewpoint: Ethereum's uptrend meets resistance at $4700 again, short-term selling pressure emerges

BlockBeats News, August 18th, glassnode stated in a post that Ethereum's uptrend was once again rejected at the +1σ Realized Price (around $4700) — the last time this level was breached was in March 2024. In several previous cycles, this threshold has repeatedly acted as a resistance level, indicating an overheated state in this area and strong selling pressure.